US over-the-top (OTT) service FuboTV is reportedly seeking to launch a new ad-supported streaming channel.
According to a report by The Wrap, the sports streaming platform, which carries some major sports in the US including rights to Major League Baseball (MLB) and National Basketball Association (NBA) matches in Houston, will launch a new channel this year.
“Ads are certainly an area that we believe is going to allow us to grow our business profitably,” FuboTV’s chief executive David Gandler told The Wrap.
“It will be a little bit smaller and more straightforward, but we certainly want to take advantage of the current trends.”
Gandler also said that FuboTV is planning to launch a new minute-long ad-break called ‘Sports Break’, which will include ‘short-form original content’ separated by two adverts.
In response to The Wrap interview, reports emerged that FuboTV is ready to launch a free streaming platform similar to the one produced by PlutoTV.
However, the company, which has rights to Big East and Big Ten college basketball as well a carriage deal with Sinclair’s The Tennis Channel, was quick to set the record straight.
“FuboTV believes in the future of pay TV and we are looking at launching an ad-supported channel, not a platform,” a company spokesperson was quoted as saying by several news sources.